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Coinbase Reimburses Customers Following $20 Million Extortion Attempt

  • Coinbase is reimbursing users after a data breach that led to a $20 million extortion attempt.
  • The breach involved cybercriminals convincing Coinbase insiders to copy customer support data to trick customers into handing over their crypto.
  • Coinbase fired the compromised employees, referred them to law enforcement, and plans to press criminal charges.
  • Coinbase is reimbursing customers tricked into sending funds to the attacker, setting up a $20 million reward fund for information leading to the attackers' arrest.

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